UK house price growth slowed in the final quarter of 2007, potentially leading to a spate of people looking for a fast property sale.
[UKPRwire, Thu Jan 10 2008] That is according to the latest report from Nationwide, which showed that prices rose by just one per cent in the fourth quarter.
This is down on the 1.6 per cent growth recorded in the third quarter and is a clear sign that house price growth is being stunted.
With this in mind, many homeowners will be seeking a fast property sale in order to get as much money for their properties as possible.
"The annual rate of house price growth slowed in every part of the UK in the final quarter of 2007, bringing the average rate in the UK down from 9.3 per cent to 6.9 per cent," said Nationwide chief economist Fionnuala Earley.
"Price growth in Northern Ireland slowed most rapidly with the rate of growth falling to 24.2 per cent from 42.6 per cent in the third quarter.
"However, annual house price growth in the province was still faster than anywhere else in the UK and almost twice as fast as the second fastest region, London," she continued.
Fast property sale expert Julian King of National Homebuyers comments, "Prices are coming down. Those facing or predicting financial concerns need to act now.
"However, selling through an estate agent, along with adding the cost of a Hips pack, does not afford the homeowner a quick property sale.
"With fewer buyers in the market, the length of time to achieve a sale is increasing dramatically. The homeowner must source other fast property sale options".
Mr King is a director of National Homebuyers, the UK's leading quick house sale company that guarantees to make an offer on any UK property, regardless of its condition or location. The company are the UK's leading provider of mortgage rescue schemes such as Sell and Rent Back, where the homeowner can sell their property and remain living in their home as tenant.
Del.icio.us
Digg
Furl
Blinklist
Reddit